Guar gum prices firmed up by Rs 166 to Rs 9,016 per quintal in futures trade today on sturdy buying by investors amidst upbeat physical sentiments bolstered by a spurt in export demand.
According to market players, expanding holdings by the speculators in line with rising trend in the spot markets enthused by a bounce in export demand for oil drilling industries, mainly denoted upsurge in guar gum futures prices.
At the National Commodity and Derivative Exchange platform, guar gum delivery for the immediate March contract jumped up by Rs 166, or 1.88 per cent, to Rs 9,016 per quintal, clocking an open interest of 1,030 lots.
Likewise, the delivery of April contract registered a rise of Rs 129, or 1.43 per cent, at Rs 9,147 per quintal, depicting an open interest of 64,750 lots.
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